Oriole Resources PLC (LSE:ORR) has advanced its Bibemi Gold Project in Cameroon by submitting an amended technical report to the Ministry of Mines, a key step aimed at accelerating the Exploitation Licence application process. This submission is intended to support constructive engagement with regulators and keep the project on track for potential approval.
According to the project’s Preliminary Economic Assessment, Bibemi could be developed as an open-pit operation with an initial mine life of approximately seven years and forecast production of around 72,000 ounces of gold. The assessment estimates upfront capital expenditure of $60.4 million, with a projected payback period of about four years, highlighting the project’s economic viability.
Discussions are ongoing with the Cameroonian authorities to agree on tax and customs frameworks, with Oriole targeting the grant of an exploitation licence by mid-2026. These negotiations are a critical component of de-risking the project ahead of potential development.
Beyond the current mine plan, Bibemi offers considerable upside. Less than one-fifth of the total identified gold resources are reflected in the existing PEA, leaving scope for further exploration, resource growth, and potential extensions to mine life and production levels.
More about Oriole Resources PLC
Oriole Resources PLC is an AIM-listed gold exploration company with a focus on West and Central Africa. The group is engaged in the exploration and development of gold assets, with its flagship project being the Bibemi Gold Project in Cameroon.
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